Pour the rye or bourbon, cherry juice, vermouth and bitters into a cocktail shaker filled with ice and shake until very cold. Strain into a martini glass. Carefully squeeze the orange peel between your finger and thumb with the skin facing out. Ignite the oils that spurt from the peel and immediately drop the peel into the glass. Garnish with a sour cherry.
BYOC: If you don't feel comfortable lighting the peel then omit it. You can always add some orange bitters if you like. The drink is quite enjoyable either way.